GMAC Financial Services Completes Sale of U.S. Consumer Property and Casualty Insurance Business
DETROIT – GMAC Financial Services has completed the sale of its U.S. consumer property and casualty insurance business to American Capital Acquisition Corporation.
The operations included its U.S automobile, commercial vehicle, motorcycle and recreational vehicle insurance offerings.
This transaction is part of GMAC’s effort to refocus resources on strategic operations and restore financial performance. The dealer-related insurance business, which includes extended service contracts and insurance for auto dealer inventories, is not affected by this transaction and remains a strategic component of GMAC’s automotive services platform.
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